Azerbaijan: Central Bank to revise discount rate

The Central Bank of Azerbaijan (CBA) plans to discuss the issue of revising the discount rate in mid-June, Elman Rustamov, chairman of the CBA, declared on May 30.

“The monitoring of market prices in Azerbaijan held in May showed that inflation continued to decline,” Rustamov said. “In this situation, the issue of revising and mitigating the discount rate becomes topical.”

He noted that the situation with the consumer price index improved in the country.

“Inflation for four months of 2017 was lower than during the four months of last year,” the CBA head added.

The CBA last revised its discount rate in September 2016 and increased it to 15%. After that, the CBA twice during 2017 kept the discount rate unchanged. (Trend/Business World Magazine)